Case against Omaxe’s Patiala project dismissed

DELHI: Omaxe City, a joint project by Omaxe Ltd and Punjab Urban Planning Development Authority PUDA), is set to see the light of the day as the petition challenging the veracity and legality of the project was dismissed by Punjab and Haryana High Court.

The court verified the relevant records relating to the bidding process which started in 2005 by PUDA. The 85:15 revenue sharing between Omaxe and PUDA was signed in 2006.

“The aforesaid process followed, thus, shows that the transparency of the procedure could not really be doubted nor was there any special or tailor-made conditions for Omaxe Ltd, there being a comprehensive bidding process,” the Court observed.

DELHI: Century, the franchisor of the world’s largest residential real estate sales organization, today announced its expansion in India with the signing of a master franchise agreement to open CENTURY 21® franchises in India. Alchemist Group has become the master franchisor of the CENTURY 21 System for India operating as CENTURY 21 India.

DELHI: After months of deliberation, the special committee appointed by the state government was finally able to clear the property tax muddle late on October 16, paving the way for the municipal corporation to resume tax collection in Gurgaon.

DELHI: Dwarka-Gurgaon Expressway, also known as the Northern Peripheral Expressway, has been one of the hottest real estate investment destinations in Delhi/NCR with the vast potential for a robust growth.

DELHI: Good news for those who were given possession of alternative plots instead of the original HUDA plot allocated to them. Now, they can avoid paying the enhancement fees in their sectors if they were originally given plots in sectors where no enhancement was demanded.

DELHI: To counter the ongoing slowdown and shore up investor sentiment, the Haryana State Industrial and Infrastructure Development Corporation (HSIIDC) has announced a fast-track allotment programme for ‘special category’ entrepreneurs. Under the new scheme, investors will be able to buy industrial plots literally ‘off the shelf’ in some of the prime HSIIDC townships in Haryana, including the ones in Bawal and Roj Ka Meo.

DELHI: This Diwali the Noida Authority has planned to allot 866 flats in the middle-income group, high income group, low-income group and economically weaker sections categories. A senior Authority official said around 600 flats, located in Sectors 55, 66, 71, 73, 93, 110 and 135, are of the LIG and EWS categories.

DELHI: The Noida Authority has temporarily suspended allotment of 30 commercial properties, including two plots meant for malls in Sectors 2 and 61, for defaulting on payments amounting to about Rs 200 crore. Officials said sub-lease, mortgage and construction permission to the defaulters will also be banned. The Authority has warned of cancelling allotments of 20 more commercial properties.